An Overview of Behavioral Economics

Hans Overturf graduated summa cum laude from Humboldt State University with a degree in economics. Studied in behavioral economics, Hans Overturf has studied stock market crashes extensively.

The field of behavioral economics is a difficult one to master, as it combines elements of psychology and sociology with traditional economics. Unbounded rationality, unbounded selfishness, and unbounded willpower are the three unrealistic components of traditional economy that behavioral economists seek to address. Behavioral economics is often underscored by two primary questions, namely, whether the profit-driven assumptions of economists and executives can be applied to actual people and societies and how individuals measure risk in comparison to how various economic and business models calculate it. Even formulas developed specifically to gauge how the average consumer will react in a high- or low-risk situation designate humans as Homo economicus, meaning that they will blindly follow economic trends without being affected by proven aspects of cognitive and social psychology.

Marathon Training

An award-winning former wealth manager and veteran of the Swiss military, Hans Overturf enjoys a variety of hobbies including yoga and helicopter flying. Hans Overturf also runs extensively and has trained for a marathon with the goal of completing it in less than 2 hours and 40 minutes.

Named for the site of a battle between Ancient Greece and Persia, marathons represent a global standard for long-distance running. In addition to the Olympic marathon, marathon events take place worldwide, particularly in major cities.

To train for a marathon, a runner must commit several months or half a year to long distance running. A runner’s weekly mileage often serves as a metric for the rigor of the training. The runner builds up mileage over time as his or her fitness increases. Running 5K, 10K, and half marathon races can provide a sense of accomplishment and serve as a benchmark for training progress as well.

A beginner usually focuses on the simple goal of completing the race. This is a significant challenge, even for fit individuals. Eventually, as they advance in stamina, marathoners begin to focus on other goals as well, for instance successfully training at particular speeds and achieving certain completion times.

Overview of Helicopter Pilot Training and Testing

A former officer in the Swiss military and a successful investment manager based in California, Hans Overturf pursues a variety of hobbies in his spare time. Hans Overturf particularly enjoys flying helicopters.

Though helicopter training is available to those with no flying experience, the course work differs as compared to those who already have an airplane certificate. Individuals with no previous flying experience must undergo at least 20 hours of instruction and an additional 20 hours of practice before taking their test flight (also known as a checkride). However, most students need additional time to prepare and spend about 45 hours alongside a certified instructor for a total of 65 hours.

Before their checkride, students must pass a computerized exam with a score of 70 or better. Subsequently, an experienced examiner will administer an oral and flight test that can last up to three hours. The exam covers “Practical Test Standards,” but students should be ready to cover other topics as well.

Those who already possess fixed-wing certificates and wish to fly helicopters will add a category to their certificate. Regulations do not consider them ‘student pilots’ and the FAA imposes far less stringent restrictions on them. Nevertheless, due to the differences between fixed- and rotary-wing flight, most fixed-wing pilots spend about 55 hours to properly augment their flight training.

Nassim Nicholas Taleb – Noted Author and Scholar

Hans Overturf is a successful financial services professional with more than a decade of experience in the industry. In his personal life, he enjoys running and yoga, and is involved with several service organizations. Also an avid reader, Hans Overturf especially enjoys the works of the author and essayist Nassim Nicholas Taleb. 

Most known for his bestseller The Black Swan, Nassim Nicholas Taleb focuses on the problems associated with probability, forecasting future events, and decision making in a world where chaos and randomness govern more than we humans are inclined to think. A “black swan” is an event that is highly unlikely to occur, but which has huge consequences if it does. Taleb argues that though we like to think that the past is a good predictor of the future, it is these rare “black swan” events that push society forward and have the greatest implications. In addition to The Black Swan, Taleb has written several other books and many essays and articles that have appeared in a variety of magazines and scholarly journals. Aside from being a writer, Taleb is a distinguished professor of risk engineering at the Polytechnic Institute of New York University and an external professor at the Centre d’Economie de la Sorbonne in Paris. 

An Introduction to Author Nassim Nicholas Taleb

Hans Overturf stands out as the founder of OFS, an investment firm based in Mill Valley, California. Graduating third out of a class of 32 from Morgan Stanley’s training program, he has since managed many complex portfolios as well as his own and his family’s assets. Hans Overturf enjoys learning about the innovative financial concepts that make up the work of Nassim Nicholas Taleb.

A former trader of complex derivatives, Nassim Nicholas Taleb has earned acclaim for his books on chance events and their potential impact on the financial world. In his book Fooled by Randomness, Mr. Taleb examines the fine line between luck and skill, as well as the effect chance can have on financial decisions. Since the publication of this book, he has gone on to examine similar concepts in The Black Swan.

Published in 2010, The Black Swan examines events that people identify as improbable, yet have gone on to cause major ramifications in the financial market. In the book, Mr. Taleb discusses the unseen prevalence of these events and why analysts often miss them. His illuminating style and content also characterize his other work, Antifragile: Things That Gain from Disorder.